"Laurel"

Featuring Live & Online Simulcast Bidding
$150,000 Opening Bid

TWO STORY
TRADITIONAL HOME
-On 0.399 Acre ± –

Known As:
622 10^TH STREET
Laurel, Prince George’s County, MD 20707

Online Bidding Opens
MONDAY, MAY 9, 2022

Live Onsite Auction
WEDNESDAY, MAY 11, 2022
AT 11:00 A.M.

NOTE: The information contained herein has been obtained from sources deemed reliable and is believed to be accurate. However, no express or implied warranty is made or may be inferred from any such representation. Dimensions, square footage and acreage contained herein are more or less. Prospective purchasers are encouraged to perform their own due diligence, in advance of the auction, regarding the permitted uses of the property.

LOCATION:
622 10th Street is located in the city of Laurel, a suburb of Northern Prince George’s County. The surrounding community is comprised of single family detached homes. Within a mile of the home is the Laurel Shopping Center, which includes a grocery store, wholesale club, several restaurants, entertainment and retail shops. The home is close to several major roadways including RT-198, I-95 and the Baltimore-Washington Parkway. Major employers in the area include National Security Agency, University of Maryland Laurel Medical Center and Bowie State University. According to the Prince George’s County Public Schools locator, the area public schools include Laurel Elementary, Dwight D. Eisenhower Middle School and Laurel High School.

For more information, please see:
City of Laurel – www.cityoflaurel.org
School Finder – gis.pgcps.org
Prince George’s County – www.princegeorgescountymd.gov

SITE:
Lot – 0.399 Acre, more or less

Zoned – R-55, Residential

All public utilities

IMPROVEMENTS:
Two story single family home – according to public tax records, the house was constructed in 1900, contains 1,764 square feet of living area and 588 square feet of basement area. The home contains living room, den and kitchen, on the first floor; three bedrooms and bathroom, on second floor; unfinished basement.

The home is believed to require full renovation.

TITLE:
In fee simple; sold free and clear of liens. Prince George’s County Deed Book MEA Liber 46525, folio 577.

TAXES:
Published annual real estate taxes are $4,413.83 based on a full value assessment of $241,667

SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.

Live Auction Bidders – a $15,000 deposit, payable by cashier’s check, will be required of the purchaser at time and place of sale. The deposit shall be increased to 10% of the purchase price within 24 hours.

Online Auction Bidders – a 10% deposit, payable by cashier’s check or wire transfer, will be required of the purchaser by 4:30 P.M. on the day of auction, at the Auctioneer’s office.

Deposit funds shall be held by A. J. Billig & Co., LLC. Balance to be paid in cash at settlement, which shall take place within 45 days. If payment of the deposit or balance does not take place within the specified time, the deposit shall be forfeited and the property may be resold at the risk and expense of the Purchaser. Interest to be charged on the unpaid purchase money, at the rate of 12% per annum, from date of contract to date of settlement. All adjustments, including taxes, ground rent and all other public charges and assessments payable on a monthly or annual basis, and sanitary and/or metropolitan district charges, if any, to be adjusted for the current year to date of contract and assumed thereafter by the Purchaser. The property will be sold in “AS IS” condition, and subject to easements, agreements, restrictions or covenants of record affecting same, if any. Purchaser assumes the risk of loss from the date of contract forward. The Purchaser waives and releases the Seller, the Auctioneers, and their respective agents, successors and assigns from any and all claims the Purchaser and/or its successors and assigns may now have or may have in the future relating to the condition of the property, including but not limited to the environmental condition thereof. The Purchaser agrees to waive the right of inspection for lead paint, as provided under current Federal and State law. If the Seller is unable to convey good and marketable title, the Purchaser’s sole remedy in law or equity shall be limited to the refund of the deposit. Upon refund of the deposit this sale shall be null and void and of no effect, and the Purchaser shall have no further claim against the Seller or Auctioneers. Recordation costs, transfer taxes and all costs incidental to settlement to be paid by the Purchaser except where otherwise mandated by local, State or Federal law. Time is of the essence.

NO BUYER’S PREMIUM